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Filtered By Category: Taxation

Apr 13 2020

R&D Tax Credits – a critical cash flow injection

Categories: COVID-19Taxation

At a time of great concern for all of us, many businesses are still missing a valuable opportunity to increase their cash flow by thinking they cannot claim for R&D tax credits. Here is a quick reminder of the basic eligibility criteria: You must trade as a limited company You must incur qualifying costs, typically more

Mar 19 2020

Spreading the cost of tax

Categories: COVID-19Taxation

Given the current climate, the focus of our advice from our EQ Taxperts switches from tax planning to managing the cost and cash flow effect of tax. In the past few days, we’ve had numerous conversations with clients about how to deal with tax matters, and we thought it would be useful to share a more

Mar 16 2020

Opting to tax on development land sales

Categories: AgricultureTaxation

Tax planning surrounding the sale of land for development tends to be focused on minimising Capital Gains Tax, and rightly so as the amounts of tax at stake can be very significant. However proper consideration should also be given to VAT. It is probably best to start by explaining the default position. Normally sales of more

Mar 5 2020

Working together to support technology start ups

Categories: TaxationTechnology

The owner of an American company wanted to set up a new UK subsidiary, in partnership with a Scottish University, and approached EQ to discuss how best to structure. After early discussions, it became clear that funding was an issue that needed to be addressed. The possibility of setting the company up to secure EIS more

Jan 22 2020

Research & Development tax credits in the Agricultural Industry

Categories: AgricultureTaxation

Historically the majority of agricultural businesses operated as partnerships, however with many now trading as limited companies, they have potential to claim for Research & Development (R&D) tax credits. These tax credits are an established government-backed initiative, designed to encourage innovation and progression and in order to be eligible to make claim, you must be operating as more

Dec 3 2019

Can VAT help to boost your profits?

Categories: LeisureTaxation

The VAT Flat Rate Scheme allows some smaller businesses to benefit from paying a lower rate of VAT to HMRC. The scheme is often used by contractor type businesses, but is less widely used in the leisure sector. Instead of declaring the standard 20% on sales, you pay a lower percentage to HMRC that varies more

Nov 22 2019

The rise of contactless payments

Categories: Food & DrinkTaxation

Contactless payments are becoming increasingly popular, especially in the food and drink industry, where it is estimated that half of all debit card transactions are contactless. In the UK, contactless payments on debit and credit cards have a maximum limit of £30 however mobile payment methods, such as Apple Pay and Google Pay, are better more